Ambac Financial Group, Inc. (Ambac) is a financial services holding company. The Company operates through two segments: Financial Guarantee and Financial Services. The Financial Guarantee segment includes insurance policies and credit derivative contracts. Its Financial Guarantee is conducted through its operating subsidiary, Ambac Assurance Corporation and its subsidiary Ambac Assurance UK Limited. Financial Guarantee provides a guarantee that protects the holder of a debt obligation against non-payment when due. Financial Services provide financial and investment products, such as investment agreements, funding conduits and interest rate swaps, principally to the clients of its financial guarantee business. Its investment agreements are issued to structured finance and municipal issuers through its subsidiary, Ambac Capital Funding. Financial Services also maintain interest rate derivatives to mitigate exposure to floating rate insured obligations in the Financial Guarantee segment.